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2017 (2) TMI 325 - AT - Income TaxShort deduction of TDS - Liability deduct TDS on interest payment - non availability of PAN - @ 20% OR 10% - Held that:- We find that it is not a case that PAN of payees available with the assessee was not correct but this is a case where due to typographical error or much volume of entries in TDS return, wrong PAN of only one payee was mentioned in the original TDS return though the payee appears to have supplied correct PAN to the assessee. Similarly, Shri Prafull Kumar Jain is old assessee. Therefore, it is a clerical and typographical error while feeding data in TDS return which led to wrong application of tax rate of 20% in the case of one deductee whereas the assessee might have paid interest to a large number of persons, the assessee being a public sector bank. Since the mistake of quoting wrong PAN has been rectified in the revised TDS return filed by the assessee which has been accepted by the department, therefore, there is no justification in raising a demand on account of short deduction of TDS. Assessing Officer was not justified in adopting the rate of 20% as against 10%. We, therefore, delete the demand and interest thereon - Decided in favour of assessee
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